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T.Y.
BFM
(Vth
SEM)
BANK
INGS
YSTE
M
NAGI
NDAS
KHAN
DWA
LA
COLL
GEPR
OJEC
T
ON“M
ODER
NISA
TION
IN
BANK
ING
SYST
EM
ININD
IA”SU
BMIT
TED
BYDI
MPLE
LUKH
AT.Y.
BFM
N.K.
COLL
EGEM
ALAD
SUBM
ITTED
TOUN
IVERS
ITY
OF
MUM
BAIA
CADE
MIC
YEAR
2010-
2011P
ROJE
CT
CO-
ORDI
NATO
R:Mrs.
KAVI
TA
SHAH
NAGIND
AS
KHAND
WALA
COLLEG
EPage 1
 Highlight
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ACKN
OWLE
DGEM
ENT
We are
glad to
have
such
a great
opportun
ity to
present
our proje
ct on the
topic of
Modern
ization
in Banki
ng
System i
n India
which
has
given us
immense
knowled
ge. We
are
grateful
to
Prof. K
AVITA
MADA
M
for all
her
guidance
and assis
tance
“NO
ENDEA
VOUR
ACHIE
VE
SUCCE
SS
WITHO
UT
THE AD
VICE
AND
CO-
OPERA
TION
OF THE
OTHER
S”
T.Y.
BFM
(Vth
SEM)
BANK
INGS
YSTE
M
INDEX
S R .
N O
. T
O P
I C
1 . H I
S T O
R Y 2.
POST
INDE
PEND
ENCE
3.NA
TION
ALIS
ATIO
N4.LI
BERA
LISA
TION
5 . E V
O L U
T I O
N 6.I
NTR
ODU
CTIO
N 7.B
ANKI
NG T
ECHN
OLOG
IES
•
ONLIN
E
BANKI
NG
•
ATM
•
ELECT
RONIC
FUND
TRANS
FER
•
ELECT
RONIC
CLEAR
ING
SERVIC
E
•
CREDI
T
CARDS
•
REAL
TIME
GROSS
SETTL
EMENT
•
CORE
BANKI
NG
•
MOBIL
E
BANKI
NG
•
VERY
SMALL
APERT
URE
TERMI
NAL
•
LASER(
DEBIT
CARD)
•
ELECT
RONIC
COMM
ERCET
ELE
BANKI
NG8 . C
HALL
ENGE
S AH
EAD9
. C A S
E S T
U D Y
10.C
ONC
LUSI
ON
NAGIND
AS
KHAND
WALA
COLLEG
EPage 3
11.W
EBLI
OGR
APHY
T.Y.
BFM
(Vth
SEM)
BANK
INGS
YSTE
M
SUMM
ARY
In the or
ganizati
onal con
text, inn
ovation
may be l
inked to
performa
nce and
growth t
hrough i
mprove
ments in
efficienc
y, produ
ctivity,q
uality,co
mpetitiv
e
positioni
ng,mark
et share,
etc.
Allorga
nization
s can in
novate,
includin
g for ex
ample h
ospitals,
universit
ies, and
local gov
ernments
.Over
the last
three
decades
the role
of
banking
in the
process
offinanc
ial inter
mediati
on has
been un
dergoin
g a prof
oundtra
nsformat
ion,
owing to
changes
in the
global
financial
system.
It isnow
clear
that a
thriving
and
vibrant
banking
system
requires
a
welldeve
loped
financial
structure
with
multiple
intermed
iaries
operatin
g
inmarket
s with
different
risk
profiles.
Taking
the
banking
industry
to
theheigh
ts of
internati
onal
excellen
ce will
require a
combina
tion of
newtech
nologies
, better
processe
s of
credit
and risk
appraisal
,
treasury
manage
ment, pr
oduct di
versifica
tion, inte
rnal cont
rol and e
xternalre
gulations
and not
the least,
human
resource
s.
Fortunat
ely, we
have
acompar
ative
advantag
e
in almost
all these
areas.
Our prof
essionals
areat the
forefront
of
technolo
gical
change
and
financial
develop
mentsall
over the
world. I
t is time
to harne
ss these
resourc
es forde
velopme
nt
of Indian
banking
in the
new cent
ury.
NAGIND
AS
KHAND
WALA
COLLEG
EPage 5
HISTO
RY
The firs
t banks
were pr
obably t
he religi
oustemp
les of
theancie
nt world,
and were
probably
establish
ed in the
third
millenni
umB.C.
Banks p
robably
predated
the inve
ntion of
money.
Deposits
initially
consiste
d of grai
n and lat
er other
goods in
cluding
cattle,ag
ricultural
impleme
nts, and
eventuall
y
precious
metals
such
asgold,in
the form
of easy-
to-carry
compres
sed
plates.
Temples
and
palacesw
ere the
safest
places to
store
gold as
they
were
constantl
y
attended
and well
built. As
sacred
places,
temples
presente
d an
extra
deterrent
to
would-
be
thieves.
There
are
extant
records
ofloans f
rom the
18thcent
ury BC
inBabyl
on that
were
made by
temple
priests/
monks
tomercha
nts.
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specified.
T.Y.
BFM
(Vth
SEM)
BANK
INGS
YSTE
M
Banking
in India
Structur
e of the
organise
d
banking
sector in
India.
Number
of
banksare
in
brackets.
Banking
in India
originat
ed in the
last
decades
of the
18thcent
ury. The
first
banks
were
The
General
Bank of
India
which
startedin
1786,
and the
Bank of
Hindusta
n, both
of which
are now
defunct.
The
oldest
bank in
existenc
e in
India is
the State
Bank of
India,
whichori
ginated
in the B
ank of C
alcutta i
n June 1
806, whi
ch almo
stimmed
iately
became
theBank
of
Bengal.
This
was one
of the
three pre
sidency
banks, th
e other t
wo being
theBa nk
of Bomb
ay and
NAGIND
AS
KHAND
WALA
COLLEG
EPage 7
specified.
theBank
of
Madras,
all three
of which
were
establish
ed under
chartersf
rom the
British
East
India
Compan
y. For
many
years the
Presiden
cy banks
acted as
quasi-
central b
anks, as
did their
successo
rs. The t
hree ban
ks merge
d in 192
1 to for
m theIm
perial
Bank of
India,
which,u
pon
India's
independ
ence,
became
the State
Bank of
India.Ind
ian merc
hants in
Calcutta
establish
ed the U
nion Ba
nk in183
9, but it
failed in
1848 as
a
consequ
ence of
the
economi
c crisis
of1848-
49. The
Allahab
ad Bank
, establi
shed in
1865 an
d stillfu
nctionin
g today,
is the
oldest
Joint
Stock
bank in
India.(
Joint
StockBa
nk
:A
compan
y that
issues
stock
and
requires
sharehol
ders to
beheld
liable
for the
compan
y's debt)
It was
not the
first
though.
Thathon
or
belongs
to the
Bank of
Upper
India,
which
was
establish
ed
in1863,
and
which
survived
until
1913,
when it
failed,
with
some of
itsassets
and
liabilitie
s
being tra
nsferred
to theAll
iance
Bank of
Simla.W
hen the
America
n Civil
War sto
pped the
supply o
f cottont
oLancas
hire fro
m
theConfe
derate
States,
promoter
s opened
banks
tofinanc
e trading
in Indian
cotton.
With
large
exposure
to
speculati
veventur
es, most
of the
banks
opened
in India
during
that
period
failed.Th
e
deposito
rs lost
money
and lost
interest
in
keeping
deposits
with ban
ks.
Subsequ
ently,
banking
in
India re
mained
the
exclusiv
e
domaino
f
Europea
ns for
next
several
decades
until the
beginnin
g of the
20thcent
ury.
specified.





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